When it comes to your possessions, it's better to be safe than sorry. But, do you need moving insurance when you're already hiring a professional mover? This can be a complicated question, so we’ll help you breakdown why or why you don’t need insurance on your items.
Why Would You Need Insurance?
Anything can happen during a move, and it may not be the fault of the movers. A moving truck could get into an accident, or it could be the target of theft. Items could be damaged while loading or unloading, and weather issues could cause further damage. While professional movers offer some protection, they may not offer full protection.
What Types of Coverage Are Available?
Before you get into the different types of insurance you can acquire, you need to understand the different types of coverage. Some types of coverage offer the full replacement value of your property. If you lose a guitar during your move that will cost $200 to replace, you will get $200 to replace it. But other types of coverage offer a percentage value of your goods. If you have $10,000 worth of items destroyed during a move and you have 70% coverage, then you'll only get $7,000 back rather than the full replacement value.
What Protection Do Professional Movers Offer?
For the most part, professional movers, who are bonded and licensed, will offer a certain percentage of your property value as reimbursement by default. For additional insurance, you can purchase more coverage directly through the moving company. Moving companies often offer affordable insurance that can be added directly to their other moving fees.
It's important to note that you may not need this insurance coverage. If you already have renter's insurance or homeowner's insurance, moving may be governed by your policy. The best way to check is to call your insurance company and ask if moving falls under your current coverage.
So do you need to have insurance? Having more insurance, especially on your most important items, is usually a good idea. If you already have coverage through your renter's insurance or homeowner's insurance, it's probably unnecessary. Further, if you want to take a gamble, you're usually insured for a certain value of your property regardless when you transport them through a professional mover. Hedberg Moving can offer more information regarding whether it's prudent to insure your property.
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